29 September 2008
During a recent visit to Bowral and Nowra, Rabo Financial Advisors (RFA) operations manager Mark Gledhill addressed issues in relation to the proceeds from the proposed sale of Dairy Farmers Co-Operative, including options available for Dairy Farmers shareholders after its sale to Kirin Group’s National Foods Limited.
Mr Gledhill was the keynote speaker at a RFA financial planning seminar held in Bowral and Nowra. During his presentation, Mr Gledhill challenged guests to consider all options that would assist their business and future before committing any of the proceeds from the proposed sale. He highlighted several key items for guests to consider.
“Initially, debt serviceability may be better than debt reduction. Planning past this year is critical as it will ensure that your financial actions this year are not detrimental to your long term plans,” he said.
“Taxation leakage from your share proceeds is a major factor. Every one per cent leakage on 50,000 shares could equal up to $2,850. However if nothing is done, the taxation leakage may be up to 19 per cent of your proceeds.
“Past losses are also very valuable, both in terms of capital losses and trade losses.”
Mr Gledhill also highlighted a number of opportunities available to shareholders through placing a portion of the sale proceeds into superannuation, the use of a transition to retirement pension, and receipt of a tax-free income from superannuation after age 60.
Goulburn branch manager, Michael White, was pleased with the positive feedback received by the branch following the RFA seminar.
“We are delighted that the RFA seminars have been well received by local residents in Bowral and Nowra, many of the attendees have already organised to meet with their local RFA advisor for a personal one-on-one meeting. We’re also pleased that the seminars have been valuable to the local dairy industry,” he said.
“We are proud to continue to provide this support to local communities, and encourage residents to contact their local branches if they are interested in having a personal discussion with their local RFA advisor,” Mr Gledhill said.
RFA Limited ABN 46 096 538 288 AFSL 224 709 is a subsidiary of Rabobank Nederland (Rabobank Australia branch), they are innovative specialists offering advisory services in investment and personal risk protection. RFA’s mission is to provide high quality financial advice driven by the relationships forged with clients and delivering on-going advice tailored to each client’s unique needs.
To speak with your local advisor email rfa@rabobank.com or phone 1800 355 648.
Rabobank Australia & new Zealand is a part of the international Rabobank Group, the world’s leading specialist in food and agribusiness banking. Rabobank has more than 110 years’ experience providing customised banking and finance solutions to businesses involved in all aspects of food and agribusiness. Rabobank has a AAA credit rating and is ranked as one of the world’s safest banks by Global Finance magazine. Rabobank operates in 43 countries, servicing the needs of more than nine million clients worldwide through a network of more than 1500 offices and branches. Rabobank Australia & new Zealand is one of Australasia’s leading rural lenders and a significant provider of business and corporate banking and financial services to the Australian food and agribusiness sector. The bank has 80 locations throughout Australasia.
Contact
For further information please contact Denise Shaw, Public Relations (Tel: 61 2 8115-2744) or Elise MacDonald, Public Relations (Tel: 61 2 8115-4861) or email on sydney.mediarelations@rabobank.com.